ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PHYSICAL INVENTORY Definition
PHYSICAL INVENTORY is the counting of all merchandise or equipment on hand.
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PURCHASE ORDER is a written authorization for a vendor to supply goods or services at a specified price over a specified time period. Acceptance of the purchase order constitutes a purchase contract and is legally binding on all parties.
APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.